« previous next »
Pages: [1]   Go Down

Author Topic: Manhattan Apartment Rents Drop for a Third Straight Month  (Read 544 times)

0 Members and 1 Guest are viewing this topic.

Offline DCPatriot

  • Hero Member
  • *****
  • Posts: 45,994
  • Gender: Male
  • "...and the winning number is...not yours!
Manhattan Apartment Rents Drop for a Third Straight Month
« on: December 13, 2013, 11:52:16 pm »
Manhattan Apartment Rents Drop for a Third Straight Month
By Oshrat Carmiel



Manhattan apartment rents fell for a third month in November and the vacancy rate reached the highest in at least seven years, signs the market is weakening amid a spike in homebuying and the lure of leasing in Brooklyn.

The median monthly rent in Manhattan dropped 3 percent from a year earlier to $3,100, according to a report today by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The vacancy rate climbed to 2.8 percent, the highest since the firms began tracking the data in August 2006.


more at:

http://www.bloomberg.com/news/2013-12-11/manhattan-apartment-rents-drop-for-a-third-straight-month.html
Logged
"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

"Journalism is about covering the news.  With a pillow.  Until it stops moving."    - David Burge (Iowahawk)

"It was only a sunny smile, and little it cost in the giving, but like morning light it scattered the night and made the day worth living" F. Scott Fitzgerald

Oceander

  • Guest
Re: Manhattan Apartment Rents Drop for a Third Straight Month
« Reply #1 on: December 14, 2013, 06:02:18 am »
Median monthly rent of $3,100 covers a lot of territory.  Manhattan ain't all glitz and luxury.  Its housing stock is comprised of a substantial number of 70 to 80 y.o. walk ups that are in just barely inhabitable condition.
Logged
Pages: [1]   Go Up
« previous next »